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Calculate labor force participation rate

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Reference no: EM132274857

Following information is extracted from a database maintained by the country's ministry of labor:

Total population = 24,512,311

Military personnel = 98,539

People below 15 years of age = 4,240,102

People in elderly care centers = 1,232,130

People who didn't look for job in last 4 weeks = 831,304

House wives whose sole activity is home-making = 3,424,204

Volunteers = 313,200

Self-employed people = 3,423,042

Employment in the governments = 2,026,569

Employment in the private sectors = 8,060,941

a. Calculate labor force participation rate.

b. Calculate unemployment rate.

c. Calculate employment rate.

Reference no: EM132274857

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